The private sector is stepping in to back Aboriginal entrepreneurs with a new $500 investment infrastructure fund.
Chris Croker, a Luritja man from Central Australia, and MD of Impact Investment Group launched the Indigenous Infrastructure Investment Fund last week to mark National Reconciliation Week.
The fund hopes to invest $500 million over five years in 15 to 20 projects supporting Indigenous infrastructure.
“The launch of the fund is an important step towards increasing Indigenous direct economic engagement through employment, procurement and leasing from Indigenous landholders and will be a trusted investment vehicle for long-term investments that align the interests of financial investors, private developers and Indigenous communities,” Croker said.
“My vision is that the fund will improve Indigenous economic participation and access to infrastructure services such as reliable electricity, clean and safe drinking water, improved health care and better access to quality education and act as a catalyst for addressing the long-term disadvantage of Indigenous people.”.
Impact Investment Partners director Janice Morris said the fund offers investors the opportunity to generate financial returns and fund Indigenous infrastructure to create a lasting positive change for Indigenous Australians.
“The Fund will only consider investments that generate significant Indigenous economic and social benefits and market-based financial returns to meet the fund’s dual objectives,” she said.
Details on the Indigenous Infrastructure Investment Fund are available here.